PGIM Real Estate-Director, Senior Underwriter

PGIM•Chicago, IL

1d•$135,000 - $148,000

About The Position

PGIM Real Estate is seeking a Senior Underwriter for its FHA lending platform, which provides FHA-insured commercial mortgages for healthcare and multifamily properties. The role manages the underwriting process and analyzes applications in accordance with FHA/HUD LEAN and MAP program requirements and sound underwriting standards, with the goal of obtaining FHA commitments and closing loans. The Senior Underwriter is accountable for FHA/HUD submissions, transaction timelines, underwriting narratives and forms, due diligence, credit decisions, third-party reports, firm commitment conditions, appeals, loan closings, and data integrity in the loan tracking database. The role also communicates with internal teams, originators, borrowers, and FHA/HUD staff; mentors junior staff; and develops expertise in increasingly complex specialty loan types. Site visits and travel may be required.

Requirements

FHA/HUD LEAN and MAP underwriter certification.
At least 5 years of recent underwriting experience with MAP and LEAN transactions.
Experience training and mentoring junior staff.
BS/BA degree.
Ability to analyze and implement solutions to a wide range of underwriting and compliance considerations.
Excellent interpersonal and negotiation skills.
Excellent analytical and math skills.
Creative, flexible, proactive, and team-oriented approach, with strong customer service and communication skills.
Strong organizational skills and ability to manage multiple assignments and priorities.
Strong teamwork and partnering skills, including managing expectations of multiple internal and external constituents.
Ability to work independently and partner effectively within a team.
Ability to travel as needed.

Nice To Haves

A degree in finance, real estate, or a related discipline is preferred.

Responsibilities

Maintain accountability for all aspects of FHA/HUD submissions made on behalf of PGIM.
Manage transaction timelines and identify threshold issues that may affect application outcomes.
Prepare underwriting narratives and FHA/HUD underwriting forms for Loan Committee and, when approved, FHA/HUD submissions.
Communicate transaction status and issues proactively with Originators, internal clients, and FHA/HUD.
Direct junior staff in collecting due diligence and oversee compilation of applications submitted to FHA/HUD.
Make autonomous credit decisions on loans.
Train and mentor junior staff.
Participate in selecting and engaging third-party report providers; critically review reports for FHA/HUD and Prudential requirements and coordinate adjustments.
Conduct site visits when applicable.
Develop knowledge of increasingly complex specialty loan types.
Communicate with FHA/HUD staff about approval timing, deficiencies, and related matters.
Review FHA/HUD firm commitments for conditions affecting closing; prepare appeals and negotiate resolutions with HUD and the borrower team.
Coordinate the loan closing process.
Maintain data integrity in the proprietary loan tracking database.
Attend applicable FHA/HUD, external, or internal training as directed by management.

Benefits

Market-competitive base salary with yearly bonus potential.
Medical, dental, vision, life, and disability insurance.
Paid Time Off (PTO) and leaves of absence, including parental and military leave.
401(k) plan with company match up to 4%.
Company-funded pension plan.
Wellness programs, including up to $1,600 per year in reimbursement for personal wellbeing purchases.
Work/Life Resources for parenting, housing, senior care, finances, pets, legal matters, education, emotional and mental health, and career development.
Education Benefit for approved degree programs and accredited certificate programs.
Employee Stock Purchase Plan, allowing shares to be purchased at 85% of the lower of the beginning or ending purchase-period price.

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